Do you know what your financial needs are? We can identify our financial needs through a general discussion about satisfaction, transitions, history, principles, and objectives. In previous writings, we discussed satisfaction, transitions, and history. Today, let’s explore the concept and application of our principles.
Principles are the core beliefs that help us navigate throughout our life. Principles guide us in our relationships. Principles strengthen us when we face challenges. Principles help us to make wise decisions. Knowing, understanding, and applying principles in life is a critical dimension of thoughtful living. Think about your principles in the following areas. It helps to align our principles and personal finances. So, what principles do you hold in the following categories?
Success and failure
Life as a human being
Marriage and family
Relationships with relatives and friends
Relationships with acquaintances and neighbors
Relationships with authorities and subordinates
Relationships with adversaries and enemies
Education and employment
Leadership and communication
Business and occupation
Advice and counsel
Borrowing and debt
Cash flow management
Risk management and insurance
Investing and portfolio management
TIP: Take a blank piece of paper and pen. Look at the first topic and practice free-flow writing. Don’t think too hard. Don’t criticize your thoughts. Put pen to paper and let it out. If you get stuck, move on to the next topic. Take 5-7 minutes to write as fast as you can. Review what’s on your paper.
Chris Bryant is an American financial advisor.